Economics micro Y1

This class was created by Brainscape user Karim Makansi. Visit their profile to learn more about the creator.

Decks in this class (13)

PED
What is the definition of ped 1,
What is the equation used to calc...,
If the ped is higher than 1 what ...
5  cards
PES
What is the definition of pes 1,
What is the equation for pes 2,
What is the law of supply 3
6  cards
XED
If the answer to xed is less than...,
If the answer to xed is more than...,
If the answer to xed is negative ...
6  cards
indirect tax
What is an indirect tax 1,
What ate the two core reasons for...,
What is a specific tax 3
6  cards
Consumer & producer surplus
How can consumer surplus be diffe...,
What is the definition of consume...,
Where is consumer surplus typical...
7  cards
YED
What is the definition of yed 1,
If yed is negative what does this...,
If yed is positive what does this...
13  cards
Subsidies
What is a subsidy 1,
What are the two core reasons for...,
What is a consideration some cons...
3  cards
PPF's
What is the definition of opportu...,
What does the concave shape of th...,
What does ppf stand for 3
3  cards
Externalities
What is a positive externality 1,
What are three examples of positi...,
What is a negative externality 3
10  cards
Market failure
What are three examples of market...,
What is the definition of market ...
2  cards
Maximum Prices
What is a maximum price 1,
What are the aims of a maximum pr...,
When qd is greater than qs what i...
3  cards
Minimum Price
What is a minimum price 1,
What is it called when qs is grea...,
What are the goals of minimum pri...
4  cards
The Economic Problem
What is the economic problem 1,
What are the factors of production 2,
What are the 3 choices that have ...
4  cards

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Economics micro Y1

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